BI Asset Management Fondsmaeglerselskab A S Has $9.13 Million Stock Holdings in Fastenal (NASDAQ:FAST)

BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Fastenal (NASDAQ:FAST) by 98.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 118,301 shares of the company’s stock after purchasing an additional 58,726 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Fastenal were worth $9,126,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in FAST. Van ECK Associates Corp lifted its position in shares of Fastenal by 5.7% in the fourth quarter. Van ECK Associates Corp now owns 101,713 shares of the company’s stock valued at $6,588,000 after buying an additional 5,509 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Fastenal during the 4th quarter worth about $747,000. Raymond James & Associates boosted its holdings in shares of Fastenal by 3.7% during the 4th quarter. Raymond James & Associates now owns 900,171 shares of the company’s stock worth $58,304,000 after buying an additional 31,814 shares during the period. Focus Financial Network Inc. ADV acquired a new position in Fastenal in the 4th quarter valued at about $1,282,000. Finally, ICW Investment Advisors LLC raised its holdings in Fastenal by 2.0% in the 4th quarter. ICW Investment Advisors LLC now owns 36,090 shares of the company’s stock valued at $2,338,000 after acquiring an additional 694 shares during the period. Institutional investors own 81.38% of the company’s stock.

Insiders Place Their Bets

In other Fastenal news, Director Hsenghung Sam Hsu purchased 500 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were bought at an average price of $63.28 per share, for a total transaction of $31,640.00. Following the purchase, the director now owns 3,500 shares in the company, valued at approximately $221,480. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Daniel L. Johnson acquired 3,350 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was acquired at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the transaction, the director now directly owns 10,595 shares in the company, valued at $724,486.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hsenghung Sam Hsu bought 500 shares of the business’s stock in a transaction on Monday, June 10th. The stock was bought at an average price of $63.28 per share, for a total transaction of $31,640.00. Following the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at $221,480. The disclosure for this purchase can be found here. Corporate insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on FAST shares. HSBC lifted their price target on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, April 15th. Robert W. Baird lowered their price target on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Stifel Nicolaus lifted their price objective on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, Loop Capital decreased their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $68.80.

Fastenal Price Performance

Fastenal stock traded up $0.32 during trading hours on Wednesday, reaching $62.88. 556,503 shares of the stock were exchanged, compared to its average volume of 3,685,558. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06. Fastenal has a twelve month low of $53.83 and a twelve month high of $79.04. The company has a market cap of $36.00 billion, a P/E ratio of 30.97, a price-to-earnings-growth ratio of 3.36 and a beta of 1.01. The stock has a 50 day moving average of $65.11 and a two-hundred day moving average of $68.56.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The business’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the company posted $0.52 EPS. Equities analysts expect that Fastenal will post 2.08 EPS for the current fiscal year.

Fastenal Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.